1600 E Federal St · Baltimore, MD 21213

$269,999

4 bd · 1.0 ba · 648 sqft · Townhouse public records · 80 Days on market

Built 1913 $417/sqft · 260% above area Est $261k · at est.

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +15.0/30.0
• ARV discount +5.9/15.0
• Appreciation +4.7/10.0
• DSCR +4.6/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

This 3 bedroom, 3.5 bath beauty has been rebuilt from the ground up, delivering a like-new feel with stylish upgrades at every turn. From the moment you walk in, you’ll notice the bright, open layout paired with sleek flooring and clean, contemporary finishes. The kitchen is a true showstopper . Featuring custom cabinetry, a farmhouse sink, pot filler, and stainless steel appliances designed to impress while still being functional for everyday life. The main living space offers the perfect balance of comfort and style, complete with a modern electric fireplace that creates an inviting atmosphere all year long. The open staircase adds a unique architectural touch and keeps the home feeling spacious and connected. Upstairs, retreat to a spacious primary suite with a private bath, along with two additional bedrooms and a full hall bath. The finished basement expands your options with extra living space ideal for a lounge, workspace, or guest area, with the opportunity to easily add a 4th bedroom for even more flexibility. Step outside to a fully fenced, maintenance-free backyard, perfect for entertaining or unwinding without the hassle of yard work. Located just minutes from major commuter routes, downtown Baltimore, and local hotspots, this home delivers style, space, and convenience all in one.

Key facts

• Custom cabinetry
• Open staircase
• Farmhouse sink

Tags

• CUSTOM CABINETRY
• FARMHOUSE SINK
• POT FILLER
• STAINLESS STEEL APPLIANCES
• MODERN ELECTRIC FIREPLACE
• OPEN STAIRCASE

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath townhouse listed at $270k.

Deal economics

• At list price, monthly cash flow is $83 ($994/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (22.2% below list).
• Recommended offer: $210k (22.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 76/100 on livability (#90 in MD, #3,396 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Baltimore City Public Schools (urban): math 7% / reading 16% proficiency, ranked #24 of 24 in MD (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Elmer A. Henderson: A Johns Hopkins Partnership (math 2% / reading 16%, grade F, #650 of 860 statewide, top 77%, 642 students, 80% FRL); Vanguard Collegiate Middle (math 3% / reading 15%, grade F, #212 of 225 statewide, top 95%, 343 students, 84% FRL); Baltimore Polytechnic Institute (math 71% / reading 84%, grade A-, #22 of 222 statewide, top 10%, 1,555 students, 43% FRL).
• Zoned-school proficiency averages 32% at this address vs 12% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Baltimore City Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.2%/yr); 319 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 1,273 units permitted in Baltimore city in 2024 (1,104 in 5+ unit buildings).
• At $2,101/mo this rent would consume 49% of the median local household income ($51k/yr) (locally 1868% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $332 of equity ($2k loan paydown + $-2k appreciation (-0.6% local appreciation)).
• Baltimore County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $270k implies a 1400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,148 (22.2% below list)

Questions for the listing agent

1. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.31%
• DSCR: 1.06
• GRM: 10.7

CMA / ARV

• ARV (median comp): $260,753
• List price: $269,999
• Delta: 3.55%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.57% appreciation · 5.25% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.93×
• Total profit: $-5,031
• Equity at exit: $70,818

10-year hold

• IRR: 6.2%
• Equity multiple: 1.67×
• Total profit: $50,296
• Equity at exit: $79,290

Cash invested: $75,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 12 Strongly Tenant-Friendly
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City Baltimore: 12 Strongly Tenant-Friendly · D+58

Just-cause for tenancies > 1 yr.

Methodology + full state rankings →

ZIP-level market 21213

• Home prices YoY: -0.1%
• Rents YoY: 5.2%
• Active inventory: 319
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,101 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$49 /mo · $587/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $83

Break-even live

Break-even rent $1,997

Max offer price $269,999

Occupancy floor 91%

Sensitivity live

Price	-10% $236	-5% $159	+0% $83	+5% $6	+10% $-392
Rent	-10% $-83	-5% $0	+0% $83	+5% $166	+10% $249
Rate	-1.0pp $219	-0.5pp $152	base $83	+0.5pp $13	+1.0pp $-58

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1607 Hakesley Pl Baltimore, MD	3.0	1.0	720	$1,400	$1.94	45d	1	0.30mi
2410 E Federal St Baltimore, MD	4.0	2.0	720	$2,200	$3.06	25d	1	0.65mi
1100 Greenmount Ave Baltimore, MD	1.0–3.0	1.0–2.0	839	$2,584	$3.08	4d	1	0.77mi
231 E North Ave Baltimore, MD	3.0	1.0	430	$1,200	$2.79	18d	3	0.90mi
103 E Mt Royal Ave Baltimore, MD	1.0–3.0	1.0–2.0	825	$2,624	$3.18	0d	19	0.98mi
1301 Saint Paul St Baltimore, MD	3.0	1.0–3.0	1050	$2,399	$2.28	45d	1	1.02mi
500 N Rose St Baltimore, MD	3.0	2.0	520	$1,200	$2.31	6d	1	1.13mi
900 Cathedral St Baltimore, MD	3.0	1.0	902	$2,699	$2.99	4d	4	1.32mi

Listing history 25 events

1. 2026-06-21
   days on market $269,999 Active 80 DOM
2. 2026-06-18
   days on market $269,999 Active 77 DOM
3. 2026-06-17
   days on market $269,999 Active 76 DOM
4. 2026-06-16
   days on market $269,999 Active 75 DOM
5. 2026-06-15
   days on market $269,999 Active 74 DOM
6. 2026-06-13
   days on market $269,999 Active 72 DOM
7. 2026-06-09
   days on market $269,999 Active 68 DOM
8. 2026-06-08
   days on market $269,999 Active 67 DOM
9. 2026-06-07
   pricedays on market $269,999 Active 66 DOM
10. 2026-06-04
    days on market $289,900 Active 63 DOM
11. 2026-06-03
    days on market $289,900 Active 62 DOM
12. 2026-06-02
    days on market $289,900 Active 61 DOM
13. 2026-06-01
    days on market $289,900 Active 60 DOM
14. 2026-05-31
    days on market $289,900 Active 59 DOM
15. 2026-04-02
    listed $289,900 Active 1320-char remark

    Show marketing remark (1320 chars)

    This 3 bedroom, 3.5 bath beauty has been rebuilt from the ground up, delivering a like-new feel with stylish upgrades at every turn. From the moment you walk in, you’ll notice the bright, open layout paired with sleek flooring and clean, contemporary finishes. The kitchen is a true showstopper . Featuring custom cabinetry, a farmhouse sink, pot filler, and stainless steel appliances designed to impress while still being functional for everyday life. The main living space offers the perfect balance of comfort and style, complete with a modern electric fireplace that creates an inviting atmosphere all year long. The open staircase adds a unique architectural touch and keeps the home feeling spacious and connected. Upstairs, retreat to a spacious primary suite with a private bath, along with two additional bedrooms and a full hall bath. The finished basement expands your options with extra living space ideal for a lounge, workspace, or guest area, with the opportunity to easily add a 4th bedroom for even more flexibility. Step outside to a fully fenced, maintenance-free backyard, perfect for entertaining or unwinding without the hassle of yard work. Located just minutes from major commuter routes, downtown Baltimore, and local hotspots, this home delivers style, space, and convenience all in one.

16. 2026-02-28
    historical
17. 2026-01-21
    price $297,750
18. 2025-10-28
    price $319,999
19. 2025-09-25
    price $334,999
20. 2025-09-01
    listed $349,999 Active
21. 2025-08-31
    historical
22. 2022-11-22
    historical
23. 2022-09-21
    listed $69,999 Active
24. 1982-12-14
    soldstatus $18,000
25. 1982-03-23
    soldstatus $8,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $587 · $49/mo
• Projected year-2 tax: $1,765 · $147/mo
• Expected delta: +$1,178/yr (+$98/mo · 200.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,218
• − Mortgage interest: −$15,124
• − Property taxes: −$587
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − Depreciation: −$7,855
• Taxable loss: −$3,733
• Est. tax savings @ 24.0%: +$896
• After-tax cash flow: $1,890/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Baltimore City Public Schools
• NCES district ID: 2400090
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 16% ▼ -5.00%
• Median HH income: $42,108
• Composite: 10.08/100
• National rank: #9805
• State rank: #24 of 24 in MD

Livability — Baltimore

• Score: 76/100
• State rank: #90
• US rank: #3396

Category grades

Amenities A+ Commute A+ Cost of living A- Crime F Employment C Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baltimore, MD
• County: Baltimore City · 558,601 people
• City population: 588,727
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 28,058
• Household income: $51,344
• Rent vs Own: 48.0% rent · 52.0% own
• Severe rent burden: 1868.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 624,249 people
• By 2030: 621,541 · -0.4%
• By 2040: 609,756 · -2.3%
• By 2050: 597,249 · -4.3%
• By 2075: 552,236 · -11.5%
• By 2100: 513,934 · -17.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (86%)
• Race & ethnicity: Black 86% White 6% Hispanic / Latino 4% Two or more races 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Baltimore

• 2024 margin: Solid D (+73.0) · D 85.2% · R 12.2% · Other 2.6%
• 2008→2024 swing: -2.5pp toward R · 2008: 75.5pp · 2024: 73.0pp
• All cycles: 2024: D+73.0 2020: D+76.6 2016: D+74.6 2012: D+76.4 2008: D+75.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.57%
• Current HPI: 427.4453
• Rent YoY: ▲ 5.25%
• Metro: Baltimore-Columbia-Towson, MD
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

+3523.7% since first listed

11 events — show timeline

• 2026-04-02 Listed $289,900 BRIGHT MLS
• 2026-02-28 Listing Removed — BRIGHT MLS
• 2026-01-21 Price Changed $297,750 BRIGHT MLS
• 2025-10-28 Price Changed $319,999 BRIGHT MLS
• 2025-09-25 Price Changed $334,999 BRIGHT MLS
• 2025-09-01 Listed $349,999 BRIGHT MLS
• 2025-08-31 Coming Soon — BRIGHT MLS
• 2022-11-22 Listing Removed — BRIGHT MLS
• 2022-09-21 Listed $69,999 BRIGHT MLS
• 1982-12-14 Sold (Public Records) $18,000 Public Records
• 1982-03-23 Sold (Public Records) $8,000 Public Records

Property tax history

+23.8%/yr

Latest (2025): $587 · -50.0% YoY. Source: county tax records.